Overnight old crop soybean sales of 1.1 million tonnes since last Friday

Gains of 83 1/2 cents were noted for March soybeans through today's close. Bulls will note new contract highs were made as recent as Wednesday. If we didn't have a rebound into today's close bears would start discussing three days of recent highs near each other but no close near those highs. Palm and soybean oil, though off their highs, are still quite near their recent peak. South American weather shows a little concern. Overnight sales over the past seven days may be confirming hopes that SA issues impact US old crop as well.

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